--- title: "Insurance Advice in Connection with an IAE Claim" ocid: "ocds-b5fd17-f3a299bc-3b9f-44f8-94e4-ab2688f70085" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-f3a299bc-3b9f-44f8-94e4-ab2688f70085" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-f3a299bc-3b9f-44f8-94e4-ab2688f70085.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-f3a299bc-3b9f-44f8-94e4-ab2688f70085.json" source: "Contracts Finder" current_stage: "Tender" buyer: "OFGEM" published: "2023-09-18" --- # Insurance Advice in Connection with an IAE Claim Buyer: OFGEM Current stage: Tender OCID: ocds-b5fd17-f3a299bc-3b9f-44f8-94e4-ab2688f70085 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-f3a299bc-3b9f-44f8-94e4-ab2688f70085) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-f3a299bc-3b9f-44f8-94e4-ab2688f70085.json) ## Summary The procurement process for the contract titled "Insurance Advice in Connection with an IAE Claim" is being conducted by Ofgem, a public sector organisation based in London, England. The contract falls under the financial and insurance services industry category. The procurement stage is currently active, with a deadline for tender submissions set for 18th October 2023. The contract value is £25,000, with a contract period starting on 22nd December 2023 and ending on 21st June 2026. This tender opportunity for insurance advice presents a chance for businesses in the financial and insurance services sector to provide expert advice to Ofgem. Small and medium-sized enterprises (SMEs) are encouraged to participate in this open procedure below threshold procurement. Businesses with expertise in insurance services and a track record in providing advice related to offshore transmission insurance matters would be well-suited to compete for this contract, which involves addressing crucial questions regarding insurance issues for revenue adjustments. ## Notice Ofgem require insurance expertise to provide urgent and crucial advice in respect of matters in connection with the offshore transmission insurance market to be determined in relation to any claim for a revenue adjustment claim (an "IAE claim") from an Offshore Transmission Owner ("OFTO"). To make a determination, Ofgem require expert advice on various questions relating to insurance issues pertinent to making this decision. The questions will focus on whether OFTO could have secured LEG3/06 or equivalent insurance protection (defined later in this section) in the worldwide insurance market. The OFTO Licence provides the OFTO with a revenue stream in respect of the offshore transmission system for up to 25 years. That revenue stream includes mechanisms which adjust the OFTO's revenue for certain 'pass-through' items, under Amended Standard Condition E12-J3: Restriction of Transmission Revenue: Allowed Pass-through Items (the Condition). The IAE is one such revenue adjustment mechanism for costs and expenses that have arisen during the revenue term, for example, due to fault or failure of the system (subject to defined pre-requisites), or at the Authority's discretion. Further information can be found in the attached document 2023-100 ITT. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/0d5ab1fa-2001-42f2-b8f0-a22e1466690a | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure (below threshold) | | Tender suitability | SME | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 18 Sep 2023 | | Submission deadline | 18 Oct 2023 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 22 Dec 2023 - 21 Jun 2026 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £25,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | OFGEM | | Locality | LONDON | | Post town | East London | | Postcode | E14 4PU | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI4 Inner London - East | | ITL 3 | TLI42 Tower Hamlets | | Local authority | Tower Hamlets | | Electoral ward | Canary Wharf | | Westminster constituency | Poplar and Limehouse | | Delivery location | Not specified | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services - 66510000 - Insurance services ## Release History - 18 Sep 2023 at 16:45 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/0d5ab1fa-2001-42f2-b8f0-a22e1466690a ## Documents - https://www.contractsfinder.service.gov.uk/Notice/0d5ab1fa-2001-42f2-b8f0-a22e1466690a 18th September 2023 - Opportunity notice on Contracts Finder - https://www.mytenders.co.uk/search/show/search_view.aspx?ID=SEP167069 NOTE: To register your interest in this notice and obtain any additional information please visit the myTenders Web Site at the link provided. ## Notice URLs - http://www.ofgem.gov.uk ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-f3a299bc-3b9f-44f8-94e4-ab2688f70085. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-f3a299bc-3b9f-44f8-94e4-ab2688f70085.json.